VANCOUVER, March 24 /PRNewswire/ - Golden Predator Corp. (TSX: GPD) (the "Company") is pleased to announce results from the initial five core holes from its winter 2011 drill program at its Brewery Creek Project, Yukon. All five of these holes, which are in the Bohemian Zone discovered late last year, intersected significant mineralization including 31.2 m of 2.61 g/t gold beginning at a depth of 49.0 m in hole BC11-175, 32.9 m of 3.01 g/t gold beginning at a depth of 42.6 m in hole BC11-176, and 31.0 m of 2.84 g/t gold from a depth of 54.0 m in hole BC11-177.
"The remarkable continuity and consistency of these above average grades is impressive," said Chairman & CEO William M. Sheriff. "We have drilled more than 20 holes since the current program started in February, and we look forward to continuing to expand the 2010 discovery at the Bohemian Zone and further to the east at the Schooner Zone as additional results become available."
Core drilling at Brewery Creek this winter has continued to delineate a strongly mineralized steeply dipping, structural corridor that traverses the Bohemian Zone. The 25 m wide east-west corridor, initially defined by last year's drilling, has a known strike length in excess of 250 m and remains open along both strike directions. The structural zone, an extension of the 12 km long Reserve Trend that traverses the entire Brewery Creek property, lies approximately 500 m east of the Lucky deposit, the nearest past producing deposit.
The Brewery Creek Property is located 55 km due east of Dawson City, Yukon and comprises 793 quartz claims over 165 km2. Brewery Creek was the site of a heap‐leach gold mine which operated from 1996‐2002 and produced 279,541 ounces of gold. Current resources remaining on the Property include an Indicated Resource of 3.98 MM tonnes grading 1.135 g/t gold and an Inferred Resource of 2.2 MM tonnes averaging 2.01 g/t gold (Diment and Simpson, 2009). The Brewery Creek Project is authorized under a Type A Water License and a production license with expiry dates of December 31, 2021.
|Initial 2011 Diamond Drill Holes at Brewery Creek, YT Significant Intercepts (1), (2)|
|Drill Hole||From (m)||To (m)||Interval (m)||Gold (g/t)|
|(1)||Results where g/t x m is less than 2.5 are not reported in this table, unless the individual grade was ≥ 1 g/t gold over a minimum of 1.0 metres. Other intervals require ≥0.5 g/t gold to be included.|
|(2)||grams per tonne (g/t) to troy ounces per short ton: g/t divided by 34.2857 or multiply by .0292 meters to feet: 1 m equals 3.28084 feet.|
Sampling Methodology, Quality Control and Assurance
The diamond drill holes were drilled by skid mounted drills utilizing NTW core sizes (5.6 cm/2.2"). Core is cut or split and one half is sent to the lab for analysis and the other half retained on site.
The core samples were sent to ALS Mineral's ISO 9001 certified preparation facility in Whitehorse. The pulps were analyzed at ALS's ISO 9001 certified laboratory in Vancouver. Approximately 5% of the pulps are sent for secondary check assays at Stewart Groups Eco Tech laboratory in Kamloops, B.C. Blanks, commercial standards and duplicate samples were included in each batch. To determine gold levels at the ppb level detection limit 5-10,000 ppb (5-1000 ppb at Stewart Group) 30 g samples are fire assayed, then digested in aqua regia solution and analyzed by atomic absorption. At Eco Tech, values over 1,000 ppb are re-assayed by fire assay and then digested with aqua regia and then re-analyzed by an atomic absorption instrument (detection limit 0.03 g/t). At ALS Minerals, values over 10 g/t gold are re-assayed by fire assay followed by a gravimetric finish (50 ppb lower detection limit). Additional check-analyses are carried out by the lab which did not receive the original sample.
Other elements, including silver (Ag), were analyzed by a 35 elements package (ME-ICP41) whereby the sample is dissolved in an aqua regia acid solution and then analyzed by ICP-AES (Inductively Coupled Plasma - Atomic Emission Spectrometry). Ag values over 100 g/t are re-assayed by method Ag-OG46 which involves digestion in Hydrobromic, Nitric and Hydrochloric acids followed by analysis by ICP-AES. Ag values over 1500 g/t are re-assayed by method Ag-GRA21 which is a 30g fire assay with gravimetric finish (5 g/t lower detection limit).
Drilling Sampling Protocol / Chain of Custody/Data Verification
Golden Predator employs high standards of protocol with respect to the handling and chain of custody of its samples. All sampling is conducted under the supervision of the Company's project geologist and the chain of custody from the drill to the sample preparation and logging facility is continually monitored by the project geologist. Samples are shipped to the lab by qualified couriers or Company personnel under locked bags with independent identification lock numbers. Data verification of the analytical results includes a statistical analysis of the duplicates, standards and blanks that must pass certain set parameters for acceptance to insure accurate and verifiable results. All assays are reported as drilled intervals and are not to be interpreted as true widths.
The technical content of this news release has been reviewed and approved by Corwin (Cor) Coe, A.Sc.T., B.Sc., P.Geo., a Qualified Person as defined by National Instrument 43-101.
About Golden Predator Corp.
Golden Predator Corp.'s mandate is to be the leading gold property explorer and developer in Yukon, Canada. Golden Predator has a vast Yukon property position with three advanced gold projects, 6 pipeline prospects as well as exploration landholdings comprising over 2,000 km2. The 2011 winter drilling program has commenced at the Brewery Creek and Grew Creek projects. In 2011 Golden Predator will continue aggressive drill programs and work towards completing initial resource estimates for Grew Creek and Clear Creek and updating the existing resource estimate for Brewery Creek, in addition to conducting initial drilling at the recently acquired Harlan project.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Golden Predator's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Golden Predator assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE Golden Predator Corp.